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SRC approves Germantown High School sale to Md. developers

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    Photo: Courtesy of NewsWorks




The Concordia Group, a Maryland-based development firm, now has the opportunity to buy several Philadelphia School District properties, including the former homes of Germantown High School and nearby Robert Fulton Elementary.

On Thursday night, the School Reform Commission voted to allow Concordia and the District to begin the negotiation process for the sale of five shuttered school buildings.

In addition to GHS and Fulton, Concordia is interested in Charles Carroll High School in Port Richmond and Walter Smith and Abigail Vare Elementaries in South Philadelphia. In all, 11 such sales received the SRC's nod.

According to documents obtained by NewsWorks, Concordia bid $6.8 million for the portfolio.

The District — with the help of the Philadelphia Industrial Development Corp. (PIDC) — listed the five properties for $12.15 million.

Germantown and Fulton were listed for $4.55 million.

The District does not need SRC approval to sell the buildings, which could happen before the end of the year. There is a mandatory 60-day due-diligence period.

Concordia was not immediately available for comment.

Neighborhood groups caught off-guard

Thursday's vote came as the grassroots Germantown High School Task Force continued its efforts to bring a vocational-tech school to the 99-year-old building on East High Street.

Read the rest of this story at NewsWorks

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